Chandan Healthcare IPO - Day 3 Subscription at 0.81 Times

Chandan Healthcare's initial public offering (IPO) is showing improved momentum in its final day of subscription. The IPO witnessed steady growth in demand, with subscription rates progressing from 0.19 times on day one, to 0.46 times on day two, and reaching 0.81 times by 11:15 AM on the final day, indicating growing investor interest as the issue approaches closure.

Chandan Healthcare IPO, comprising a fresh issue of ₹70.79 crores and an offer for sale of ₹36.57 crores, has seen particularly strong response from Non-Institutional Investors (NII), with their portion being subscribed 1.50 times. The Retail segment has also crossed the full subscription mark at 1.06 times, while the QIB portion is yet to see participation.

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The company has already demonstrated strong institutional backing by raising ₹29.40 crores from anchor investors prior to the IPO opening. This diagnostic services provider, with its extensive network across North India, is seeing increasing interest from retail and non-institutional investors, though institutional participation remains muted on the final day of subscription.
 

Subscription Status of Chandan Healthcare IPO:

Here are the subscription details for Chandan Healthcare IPO as of Day 3 (February 12, 2025, 11:15 AM):

Note:
 

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
• The portions of anchor investors and market maker are not included in the total shares offered.

Chandan Healthcare IPO - Day 3 Subscription

• Overall subscription improved significantly to 0.81 times
• NII portion showing strong interest with 1.50 times subscription
• Retail investors crossing full subscription at 1.06 times
• QIB portion yet to see participation
• Total bids worth ₹58.43 crores received across categories
• Applications reached 3,081 showing steady retail interest
• Strong NII momentum in final day of bidding
• Retail portion maintaining consistent growth
• Day three witnessing accelerated subscription rates
• Two major investor categories exceeding full subscription
• Market response indicating growing confidence
• Final day showing positive momentum
• Strong response from non-institutional segment
• Balanced participation from retail investors

Chandan Healthcare IPO - Day 2 Subscription at 0.46 Times

• Overall subscription progressed to 0.46 times showing steady growth
• Retail investors participation increased significantly to 0.80 times
• NII segment improved to 0.39 times from previous day
• QIB portion yet to receive bids, indicating cautious institutional approach
• Total applications reached 2,309 showing growing investor interest
• Day two maintaining consistent growth momentum
• Market response showing improving confidence levels
• Retail segment demonstrating strongest participation
• Subscription amount reaching ₹33.61 crores
• Anchor portion providing stability with ₹29.40 crore commitment
• Secondary market sentiment reflecting in subscription trends
• Progressive improvement across retail and NII categories
• Steady build-up in overall subscription numbers
• Regional brand recognition driving retail participation

Chandan Healthcare IPO - Day 1 Subscription at 0.19 Times

Key Highlights:

• Overall subscription opened at 0.19 times showing measured start
• Retail investors began with 0.30 times participation
• NII segment initiated at 0.21 times showing early interest
• QIB portion yet to commence subscription
• Opening day establishing initial momentum
• Market response indicating cautious approach
• Initial applications showing focused retail participation
• Day one setting foundation for subscription build-up
• Anchor investors providing strong initial backing
• Regional healthcare sector focus attracting attention
• Early retail participation showing local market confidence
• Measured response across investor categories
• Initial momentum reflecting market sentiment
• First day establishing subscription baseline

About Chandan Healthcare Limited

Chandan Healthcare Limited, established in September 2003, has evolved into a prominent diagnostic services provider in North India, offering comprehensive pathology and radiology testing services. The company operates an extensive network comprising one flagship laboratory, seven central laboratories, and twenty-six satellite centres, supported by over three hundred collection centres spread across more than 23 cities in Uttar Pradesh and 19 locations in Uttarakhand.
Their financial performance demonstrates strong growth with revenue reaching ₹177.96 crores in FY2024, while profit after tax increased significantly to ₹16.36 crores. For the nine months ended December 31, 2024, the company reported revenue of ₹167.99 crores with a robust PAT of ₹17.42 crores, showcasing consistent operational efficiency and profitability in the diagnostic services sector.

Their competitive strengths include:

• Strong geographic presence in Tier-2 cities
• Integrated diagnostic services portfolio
• Comprehensive test menu of 1,496 tests
• Advanced radiology infrastructure
• Experienced team of medical professionals
• Track record of consistent profitability
• Strategic regional market positioning
• Strong management expertise
• Robust operational network
• Quality-focused service delivery
   

Highlights of the Ajax Engineering IPO:

• IPO type: Book Built Issue SME IPO
• IPO size: ₹107.36 crores
• Fresh Issue: ₹70.79 crores
• Offer for Sale: ₹36.57 crores
• Face value: ₹10 per share
• Price band: ₹151 to ₹159 per share
• Lot size: 800 shares
• Minimum investment for retail investors: ₹127,200
• Minimum investment for HNI: ₹254,400 (2 lots)
• Market maker reservation: 3,39,200 shares
• Listing at: NSE SME
• IPO opens: February 10, 2025
• IPO closes: February 12, 2025
• Allotment date: February 13, 2025
• Refund initiation: February 14, 2025
• Credit of shares: February 14, 2025
• Listing date: February 17, 2025
• Lead Manager: Unistone Capital Pvt Ltd
• Registrar: Kfin Technologies Limited
• Market Maker: R.K.Stock Holding Private Limited